At January 1, 2017, Wembley Company had plan assets of $250,000 and a defined benefit obligation of
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At January 1, 2017, Wembley Company had plan assets of
$250,000 and a defined benefit obligation of the same amount.
During 2017, service cost was $27,500, the discount rate was 10%, actual return on plan assets was $25,000, contributions were $20,000, and benefits paid were $17,500. Based on this information, what would be the defined benefit obligation for Wembley Company at December 31, 2017?
(a) $277,500.
(c) $27,500.
(b) $285,000.
(d) $302,500.
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